Apple’s stock is on quite the winning streak.
Shares of the tech giant are up in the premarket, putting it on pace to post their 10th straight day of gains on Tuesday. That hasn’t hasn’t happened since October 2010. The rally comes after Apple’s celebrity-packed event on March 25 initially disappointed investors and Wall Street.
Apple unveiled three new subscription services two weeks ago, including a TV service, gaming bundle, and all-you-can-read magazine subscription. It also announced a credit card in partnership with Goldman Sachs. But the announcement underwhelmed analysts as the pricing of TV streaming is still up in the air and they expect limited reach of Apple Card. Shares of Apple fell on the day of the unveil as well as the day after.
Now the dust has settled, the focus has returned to Apple’s flagship product, the iPhone. While the tech giant has suffered from slowing demand for the smartphone, it still holds a leading position in the market, analysts said.
via CNBC
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Alfonso Esparza